이 기사는 2021년 05월 20일 08:02 thebell 에 표출된 기사입니다.

South Korean private equity (PE) firm VIG Partners recently acquired The Skin Factory through its fourth blind-pool fund, one year after its acquisition of funeral services firm Preedlife in June 2020.

The PE firm purchased a 100% stake in The Skin Factory, known for its flagship brand Kundal, for more than 150 billion won ($132 million), which is the third acquisition using its fourth blind-pool fund, industry sources said on Monday.

The fourth fund closed at 950 billion won in January 2020. It invested in education services platform D.Share in November 2019, even before the final closing.

Six months later, the fund acquired funeral service provider Preedlife. VIG Partners bought the mid-sized funeral service company Jounlife in 2016 through its third fund and merged Jounlife into Preedlife earlier this year.

However, there has been no investment for about a year after the Preedlife deal was closed.

VIG Partners has normally been making active investments, using up all funds in three to four years after the creation of a new blind-pool fund.

Previously, VIG Partners’ third fund, which closed at 700 billion won in February 2017, purchased Jounlife in November 2016 and made three investments in 2017 and another three investments in 2018. It invested in seven companies over the course of two years after its creation.

Its second fund, which closed at 376 billion won in 2011, bought Burger King Korea in 2012 and Samyang Optics in 2013. It made two investments in 2014, another two investments in 2015 and one in 2016. The fund invested in seven companies five years after its formation.

Earlier this year, VIG Partners reorganized the company and formed the system of three representatives (Park Byung-moo, Jason Shin, and Lee Chul-min), one vice president (Shin Chang-hoon), and two managing directors (Chung Yun-bak, Han Young-gi) to speed up its investment activities. (Reporting by Hee-yeon Han)